News
TCN Promises Backup System To Avert Frequent Grid Collapses
The Transmission Company of Nigeria (TCN), has promised a backup or buffer system to ensure that Nigerians won’t be thrown into blackout whenever the national grid collapses.
TCN Managing Director, Sule Abdulaziz, stated this on Sunday in a program.
He blamed aged infrastructure as old as 50 years for the frequent grid collapses in the country.
Abdulaziz said, “Presently, we are doing the scatter system for the whole network and it is funded by the World Bank, and the project will take two years to be completed, and now, we have done 70% of the project.
“Almost a month ago, we were at Gwagwalada (in Abuja) with the World Bank where we celebrated the project.
It is 70 percent completed. Once we have the scatter system, it will reduce the frequency of getting system disturbances.”
“We are trying to upgrade all our transmission lines,” he said, adding that though the government might not have enough money for the project, the TCN has been working in partnership with private companies to mobilise funds.
“The honourable minister is now working with the presidency to have that approval. This is what we call the super grid.
“By the time we have it, even if there is a fault in one transmission line, you can switch to the one so that we have an alternative but now, the type of grid we have, once we have a problem with the line, you have no other line to switch on to,” he said.
The TCN boss said the investment in critical electricity generation and transmission infrastructure must be continuous.
He said Nigerians are paying more for power because electricity production is not easy and that citizens on Band A now enjoy 24-hour electricity, a claim many residents would contest.
Abdulaziz said despite the electricity tariff hike, power in Nigeria has remained cheaper than what is obtainable in neighbouring Chad, Mali, Burkina Faso, and other African countries.
News
Senate confirms Oyedele as minister
During the screening, Oyedele proffered solutions to getting out of the various economic issues in the country.
The Senate has confirmed the nomination of Taiwo Oyedele as Minister of State for Finance.
His confirmation comes after two hours of screening as lawmakers grilled him on various aspects of the economy.
Oyedele’s screening followed a motion moved by Opeyemi Bamidele, the Senate leader, after he called for the suspension of the Senate rule to allow strangers to come into the chamber.
During the screening, Oyedele proffered solutions to getting out of the various economic issues in the country.
Oyedele was escorted to the chamber by Bashir Lado, the Special Adviser to the President on the National Assembly ( Senate), alongside others.
His screening followed President Bola Tinubu’s letter to the Senate on Tuesday, requesting his confirmation as a minister.
Tinubu had, on March 3, nominated Oyedele, who currently serves as chairman of the presidential committee on fiscal policy and tax reforms, as Minister of State for Finance.
News
Tinubu appoints Lamido Yuguda as CBN’s Deputy Governor
Lamido Yuguda’s last public post was as director-general of the Securities and Exchange Commission, a position he held from 2020 to 2024.
PRESIDENT Bola Tinubu has approved the appointment of Lamido Abubakar Yuguda as Deputy Governor of the Central Bank of Nigeria (CBN)
The appointment is in accordance with Section 8(1) of the Central Bank of Nigeria Act, 2007.
This was disclosed on Wednesday by the presidential spokesman, Bayo Onanuga.
The President charges Yuguda to discharge his responsibilities with renewed dedication, professionalism, and commitment to Nigeria’s economic stability and growth.
Lamido Yuguda’s last public post was as director-general of the Securities and Exchange Commission, a position he held from 2020 to 2024.
He is an alumnus of Ahmadu Bello University, where he graduated in 1983 with a B.Sc. in Accountancy.
In 1991, he obtained a master’s degree in Money, Banking and Finance from the University of Birmingham, United Kingdom.
He is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and a CFA charterholder.
He began his career in 1984 at the Central Bank of Nigeria (CBN) as a Senior Supervisor in the Foreign Operations Department.
He also worked as an economist in the Africa Department of the International Monetary Fund from 1997 to 2001, when he returned to the CBN.
He retired from the CBN in 2016, after he had served as Director of the Reserve Management Department for six years.
News
JUST IN: IGP Disu Assigns Portfolios to New DIGs
DIG Zachariah Fera Achinyan has been deployed to Legal Services, DIG Zango Ibrahim Baba to Research and Planning, and DIG Isyaku Mohammed to Training and Development departments.
The Inspector-General of Police (IGP) Olatunji Disu has assigned the new Deputy Inspectors -General of Police (DIGs) their duties responsibilities.
Sources said that the DIGs were assigned departments based on their areas of competence.
DIG Zachariah Fera Achinyan has been deployed to Legal Services,
DIG Zango Ibrahim Baba to Research and Planning, and DIG Isyaku Mohammed to Training and Development departments.
Similarly, DIG Margaret Agebe Ochalla has been posted to the Force Criminal Investigation Department (FCID);
DIG Mohammed Abdul Sulaiman to Finance and Accounts; DIG Kenechukwu Onwuemelie will oversee the Force Intelligence Department (FID); DIG Fayoade Adegoke will head Information and Communication Technology, while DIG Umar Shehu Nadada has been posted to Operations departments.
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